# In the matter of Aadinath Probuild (India) Pvt. Ltd. (IB)-411-(PB)-2017

> NCLT judgment dated 2018-11-13. Citation: TCN-2018-NCLT-00343. The case pertains to an application filed under Section 21(6A)(b) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 13 Nov 2018
- **Citation:** TCN-2018-NCLT-00343
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aadinath-probuild-india-pvt-ltd-ib-411-pb-2017-a14c2f4e

## Summary

### Background

The case pertains to an application filed under Section 21(6A)(b) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 16A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. The application seeks the appointment of Dr. Durga Das Aggarwal as the Authorised Representative of the Class of Creditors, specifically home buyers, who have nominated him to represent their interests in the Committee of Creditors (CoC).

## Facts

Narender Kumar initiated a case against Aadinath Probuild (India) Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, CIRP. An application, CA-1165(PB)/2018, was filed under Section 21(6A)(b) of the IBC, 2016, read with Regulation 16A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. This application requested the appointment of Dr. Durga Das Aggarwal as the Authorised Representative for the Class of Creditors, specifically home buyers. The home buyers, exceeding ten in number, are entitled to nominate an Insolvency Professional to represent their interests in the CoC. Dr. Durga Das Aggarwal was voted and favored by 21 voting share of the home buyers.

## Issues and analysis

### Issue 1: Whether the procedure contemplated by Section 21(6A)(b) of the Insolvency and Bankruptcy Code, …

**Ratio:** Section 21(6A)(b) of the IBC and Regulation 16A of the IBBI Regulations outline the

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**Reasoning:** The court, after hearing the Ld. Counsel for the IRP, was satisfied that the procedure as

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**Interpretation:** Section 21(6A)(b) and Regulation 16A are interpreted to mean that if home

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**Application:** In this case, the home buyers nominated Dr. Durga Das Aggarwal, who received 21

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Narender…
- **Respondents:** Aadinath Probuild…

## Timeline

- **2018-11-13 — Order Del…**: Order delivered on the application CA-1165(PB)/2018, appointing Dr. Durga Das Aggarwal as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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